Aralez Pharmaceuticals completed its acquisition of U.S. rights from AstraZeneca to the branded and authorized generic versions of the beta-blocker Toprol-XL® (metoprolol succinate). This deal could generate up to $223 million-plus for the Aralez Pharmaceuticals.
As part of the deal, Aralez said, AstraZeneca agreed to continue manufacturing and supplying Toprol-XL and the authorized generic version to Aralez subsidiary Aralez Pharmaceuticals Trading DAC for at least 10 years.
Toprol-XL is indicated for control of hypertension, angina, and heart failure. It was first approved in the U.S. in 1992, and last year generated $89 million in combined U.S. product sales for the branded drug and AstraZeneca’s share from its sale of the authorized generic version.
Aralez paid $175 million upfront at closing and has agreed to pay AstraZeneca an additional up to $48 million in payments tied to achieving sales and other milestones. Aralez also agreed to pay mid-teen percentage royalties on sales.